Pulp Fiction co-scribe Roger Avary will write and direct the video game-inspired project for producers Panorama Media and Samuel Hadida.
Based on the popular line of video games from id Software, the movie follows a US army captain and a British special agent as they take on Heinrich Himmler's Paranormal Division during World War II.
The movie adaptation is expected to be similar in tone to Captain America and Inglourious Basterds, according to Deadline.
Avary said: "I've been playing the Wolfenstein games since I was a kid, and feel that their outlandish sensibility has deeply influenced my own writing and directing throughout my career.
"I have always thought Wolfenstein, transformed and opened for the screen to wider audiences not familiar with the games, would be a major cinematic experience, which is why I introduced it to Samuel."
The video game series is credited with kick-starting the first-person shooter genre with the release of Wolfenstein 3D in 1992.
Watch gameplay footage from Wolfenstein 3D below: